Mercuria Capital Strategies LLC acquired a new position in shares of GigInternational1, Inc. (NASDAQ:GIW – Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 375,000 shares of the company’s stock, valued at approximately $3,709,000. GigInternational1 makes up about 3.1% of Mercuria Capital Strategies LLC’s investment portfolio, making the stock its 13th largest position.
A number of other institutional investors have also added to or reduced their stakes in GIW. Gritstone Asset Management LLC purchased a new stake in GigInternational1 during the 4th quarter worth about $494,000. Wolverine Asset Management LLC purchased a new stake in GigInternational1 during the 4th quarter worth about $3,824,000. ABC Arbitrage SA purchased a new stake in GigInternational1 during the 4th quarter worth about $396,000. Geode Capital Management LLC purchased a new stake in GigInternational1 during the 4th quarter worth about $193,000. Finally, BNP Paribas Financial Markets purchased a new stake in GigInternational1 during the 4th quarter worth about $4,779,000. Hedge funds and other institutional investors own 14.01% of the company’s stock.
Wall Street Analyst Weigh In
Separately, Weiss Ratings raised GigInternational1 from a “sell (e)” rating to a “sell (e+)” rating in a report on Monday, May 18th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has an average rating of “Sell”.
GigInternational1 Price Performance
Shares of NASDAQ GIW opened at $10.05 on Friday. GigInternational1, Inc. has a 1-year low of $9.87 and a 1-year high of $10.09. The stock’s 50-day moving average is $10.02 and its 200 day moving average is $9.97.
GigInternational1 Company Profile
GigInternational1, Inc, does not have significant operations. The company focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or related business combination with one or more businesses. It intends to focus its search on companies in the technology, media, telecommunications, aerospace and defense, and mobility and semiconductor industries. The company was incorporated in 2021 and is based in Palo Alto, California.
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